The UAE's commitment towards a greater diversification of sources of growth offers companies operating in international markets great opportunities, not only in the wake of traditional sectors. As reported by SACE focus, these possibilities range from sectors relating to the quality of life to energy saving, from telecommunications to tourism up to large infrastructural works.
The excellent business environment, among the best in the region, without forgetting the federal and local development programs and the high per capita wealth, offers opportunities for many of the key sectors of Made in Italy. Furthermore, the Italian presence in the country is already robust: the UAE constitutes the main destination for the export of Italian goods in the Middle East and North Africa (MENA), which reached 2014 billion euros in 5,3.
The Italian goods exported range from the supply of jewelery to mechanical engineering, from fashion goods to metallurgy to motor vehicles. Homegrown businesses with an office on site have more than quadrupled in the last decade and, despite this, there is room for further growth in the country. About this SACE estimates, calculated on the basis of a conservative scenario, indicate a growth in Italian exports to the UAE of at least 3% per year, to reach a total value of exported goods exceeding 2018 billion by 6.
The Emirate's potential is confirmed by the high value of the SACE Export Opportunity Index, equal to 78/100, a score equivalent to that of Germany, where 100 represents the maximum opportunity. The methodology is available on the SACE website at the following link.
Over the past five years, the economic events in the UAE have established the priorities and future objectives of the Federation which, after the financial crisis of 2009-2010, managed to overcome the difficulties and went through the period of the Arab Spring unscathed, maintaining stability internal politics e proposing itself as a safe haven for capital fleeing the countries of the area affected by instability. Between 2011 and 2014, the economy returned to growth at rates above 5% per year. In fact, the UAE enjoys a good economic diversification, excellent infrastructures and ample financial capacity, all characteristics that make the Emirates among the oil markets best protected by thepossible continuation of low crude oil prices.
In order to be able to operate successfully on site, however, exporting companies cannot do without implementing a "value for money" optimization perspective given the highly competitive local context. The offer of quality products and services, capable of meeting the high standards required by local demand, cannot therefore do without the support of an equally competitive financial offer.
With this in mind, the opening of the SACE office in Dubai will make it possible to further expand the support already offered to Italian companies. This support takes the form of commitments for a total of approximately 300 million in the UAE alone and 5 billion in the entire area, in sectors relating to chemistry, petrochemistry, metallurgy, construction, instrumental mechanics and consumer goods, with potential expansion projects and an increasing involvement of SMEs.
